The chief financial officer of Netezza Corp., which sells products to store and analyze large amounts of data for companies, exercised options for 37,750 shares of common stock, and sold 100,000 shares under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday.
In a Form 4 filed with the SEC, Patrick J. Scannell Jr. reported he exercised the options Friday for 20 cents apiece, and sold the shares Thursday for $13 to $13.15 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Netezza is based in Framingham, Mass.
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